Thirty-year fixed rates were up a few ticks and 15-year fixed rates were unchanged, while 5/1 ARM rates fell a notch Friday,?according to a NerdWallet?survey of home loan rates authored by national lenders?this morning.
“Home loan rates hit 2017 highs now, because the new administration’s plans grew clearer, stocks rallied and Fed members stressed further rate hikes,” Ted Rood, a senior loan officer in St. Louis, told?NerdWallet via email. “Bond financial markets are still digesting election results, and the multiyear trend to reduce rates is comatose, if not deceased.”
Rood says it might be time for home buyers to lock in their mortgage rate.
“I’m advising clients to lock their loans early, or perhaps be prepared for higher rates by closing. Floating here involves a far greater risk compared to potential reward,” he adds.
Mortgage Rates Today,
Friday, Jan. 27
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